Why do you seem to hear this objection that often when you’re talking with your leads? Because there are several states of mind hidden behind this sentence. Which means that two of your leads may say “That’s too expensive” for totally different reasons, depending on the context and the way the conversation has been going until now. In every case, though, this remains an objection preventing your potential customers from taking their final decision to deal with you. Thus you have to help them to overpass it, and also reassure them as regards the relevance of their purchasing desire.
What do your leads think about when they tell you “That’s too expensive”? How can you take advantage of this situation, and show them they could not find a more valuable and efficient product than yours?
Start by defining the context
Your potential customers use your arguments to draw in their minds the added value of your product. The higher this added value is, the less are the chances for you to make them say “That’s too expensive”. Nevertheless, if they happen to say it, there are 4 main ways to interpret this sentence:
• Either your leads have the fear that they could not make a sufficient ROI to justify their purchase at your company. They don’t see the added value of your product over the long term.
• Or they have already seen a better offer elsewhere, and they think that some of your competitors are more valuable than you.
• Or their desire to buy from your company has simply vanished after they contacted your company. This can be related to the product itself, as your leads can realize it is finally not what they were looking for. Unconsciously, the human factor can also be considered through the tone of the conversation, the value of your arguments, etc. Unfortunately, sometimes your potential customers can say “That’s too expensive” to be polite and avoid to tell about other reasons related to you as a sales expert.
• Eventually, they can just be very clear and tell you this because they are afraid not to have enough resources to invest in your product or service. Sometimes, “That’s too expensive” can just mean… That’s really too expensive!
Then ask for their arguments
Each of the situations above requires you to know what your leads are afraid of when they tell you “That’s too expensive”. The easiest way to be aware of it is to ask them directly. Indeed, if you counter of deny this argument, it will only strengthen their defensive position.
So just ask them the question “What does make you say it’s too expensive?”
Firstly, it will make them express more precisely their needs and expectations, and maybe help you to get rid of the last doubts you could have on their point of view about your product. Secondly, this is a totally honest question for you to ask, that allows you to increase your legitimacy when comes your turn to defend your offer’s value. Thirdly, you will pass the idea that you really care about your potential customers’ situation, and that you will do your best to help them by trying to understand them.
In some cases, here again your leads will not tell you the truth. No worries, because what really matters is that you keep calm and make your possible to help them by taking in account every single word they say. If you fell you still have not convinced them after this, just ask them to tell you more about what they are exactly looking for, or what would be the ideal solution for them.
Stay engaging and professional
As a Sales expert, your job is to help your clients to make a decision. As the objection “That’s too expensive” slows down the decision-making process, it is also a huge opportunity for you to engage your potential customers with even more power.
Be prepared to face each of the situation listed above, so that you will not be disturbed in front of your leads. Thus, your enthusiasm to guide them out of their dilemma will sound more naturally. Try to gather as many information as you can to be able to adopt their viewpoints, and understand what you can say to reassure them.
“That’s too expensive” is an objection that will question your values and your company’s as well, and you need to keep them in your mind to show your potential customers why your product or service is really worth it. Don’t forget to remain professional as regards your competitors’ solutions, and be convinced that your sales will be concluded successfully to make your lead trust you.
